How does DigiFinex contract operate?

Traders can utilize DigiFinex contracts to speculate on a cryptocurrency's future price by opting for perpetual contracts with continuous settlement or futures contracts with fixed expiration dates.

Nov 24, 2024 at 03:58 am

How Does DigiFinex Contract Operate?

DigiFinex is a cryptocurrency exchange that offers a variety of trading options, including spot trading, margin trading, and contract trading. Contract trading is a type of leveraged trading that allows traders to speculate on the future price of a cryptocurrency.

DigiFinex offers two types of contracts: perpetual contracts and futures contracts. Perpetual contracts are contracts that do not have a fixed expiration date. They are settled continuously, and traders can hold them for as long as they want. Futures contracts, on the other hand, have a fixed expiration date. Once the expiration date is reached, the contract is automatically settled.

To trade contracts on DigiFinex, you will need to first create an account. Once you have created an account, you will need to deposit funds into your account. You can deposit funds using a variety of methods, including bank transfer, credit card, and cryptocurrency.

Once you have deposited funds into your account, you can start trading contracts. To trade a contract, you will need to select the contract that you want to trade, enter the amount of leverage that you want to use, and enter the price at which you want to enter the contract.

If your order is filled, you will be entered into a contract. You can monitor your open contracts in the "Positions" tab. You can also close your contracts at any time by clicking on the "Close" button.

Here are the steps on how to trade contracts on DigiFinex:

• Create an account on DigiFinex.
• Deposit funds into your account.
• Select the contract that you want to trade.
• Enter the amount of leverage that you want to use.
• Enter the price at which you want to enter the contract.
• Click on the "Buy" or "Sell" button.
• Monitor your open contracts in the "Positions" tab.
• Close your contracts at any time by clicking on the "Close" button.

Here are some tips for trading contracts on DigiFinex:

• Use leverage carefully. Leverage can amplify your profits, but it can also amplify your losses.
• Set stop-loss orders to protect your profits.
• Monitor your open contracts regularly.
• Close your contracts when you reach your profit target or when the market conditions change.